Examples of Proceeds Account in a sentence

Each Borrower Entity shall, in advance, direct the relevant insurers, reinsurers and Governmental Authorities, as applicable, to pay Loss Proceeds directly to the Collateral Agent as loss payee for deposit to the Loss Proceeds Account (and subject to the use of such proceeds by the Borrower in accordance with this Section 7.04).
If Loss Proceeds are paid to any Borrower Entity, such Loss Proceeds shall be received in trust, for the benefit of the Collateral Agent, shall be segregated from other funds of the Borrower, and shall be forthwith paid over to the Collateral Agent in the same form as received (with any necessary endorsement) for deposit to the Loss Proceeds Account.

More Definitions of Proceeds Account

Proceeds Account has the meaning set forth in Section 10(c).

Proceeds Account is defined in Section 7.1.10.

Proceeds Account has the meaning set forth in Section 2.04(b)(ii).

Proceeds Account has the meaning set forth in the Accounts Agreement.

Proceeds Account means a bank account of the Issuer, into which the Net Proceeds will be transferred (unless all Conditions Precedent for Disbursement have been satisfied prior to the First Issue Date) and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

Proceeds Account means the account by that name established pursuant to Section 3.03. “Regulations” means temporary and permanent regulations promulgated under the Tax Code. “Resolution” or “Bond Resolution” means this Resolution.

Proceeds Account means the bank account in the name of the Owner with the Account Bank and designated “Skopelos Proceeds Account”.